Certificates of Deposit

CDs normally offer a higher interest rate than liquid savings accounts and they provide a guaranteed rate for a specific term. Individuals who want high rates with a guaranteed return and do not need regular access to their money should consider a Fixed Rate CD. Or, if you prefer the flexibility of adding to your CD or making a withdrawal, check out our Easy Access CD.

• Lock in your interest rate for one month up to five years
• Low $500 minimum to open
• FDIC Insured
• Quarterly statement (monthly for deposit customers with a combined statement)
• Free 24-Hour Easy Phone Banking service
• Penalty for early withdrawal of funds prior to the maturity date
• You may not make additional deposits into this account

How do I get the interest earned on my account?

You have two options:

• Add the interest into your CD account and earn compounded interest.
• Have the interest mailed to you in the form of a check, or deposited to another one of your Katahdin Trust Company accounts.

What happens when my CD matures?

You have ten calendar days to choose one of these options:

• Do nothing. Your CD will automatically renew at the current rate and for the same term (except CD specials).
• Move all or part of your money into another Katahdin Trust Company CD or investment product. Call us and we'll transfer the amount into an account of your choice.

FDIC (Federal Deposit Insurance Corporation)

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the U.S. government. The FDIC protects you against the loss of your deposits if an FDIC-insured financial institution fails. FDIC insurance is backed by the full faith and credit of the United States. Katahdin Trust Company is a member of the FDIC. For additional information, please refer to the FDIC website.